Zimbabwe
The new dispensation has failed to manage an economic turnaround, following the ouster of former President Robert Mugabe in 2017. Foreign investment inflows have not materialised to the extent that the Mnangagwa-administration was hoping for. The country’s economic hardship is likely to persist, amid a deepening currency crisis and the risk of growing civil unrest.
Contending with a lack of US dollars, soaring prices and an acute shortage of food, fuel and medicines, all is certainly not well in Zimbabwe. The moribund economy will come under further strain this year, forecast to contract by 3.7% due in part to the disruption in electricity, which will compound an overall downturn. Aside from the disruptions to daily economic activity, the lucrative mining sector runs the risk of being hit hardest by the load-shedding. Mining and agriculture are the main sectors generating foreign exchange – any unnecessary downtime will be detrimental to the economy overall. Moreover, foreign investment inflows have not materialised to the extent that this administration was hoping for, exacerbating the foreign exchange shortage. (Source: Zimbabwe Quarterly Update, published May 2019)
Macroeconomic Data
(2018)
|
Fiscal Balance (as a % of GDP) |
-16.8 |
|
Consumer Price Index (% change y-o-y, avg) |
10.5 |
|
Current Account Balance (as a % of GDP) |
-5.7 |
|
Real GDP (annual % change) |
1.1 |
|
GDP per Capita, US$ |
1,110.8 |
|
Import Cover (months) |
0.5 |
|
Population, million |
16.9 |
| Total External Debt (as a % of GDP) |
61.1 |